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Newstrike Expands Board with Appointment of Seasoned Capital Markets Professional

GlobeNewswire |
Wednesday, 14 February 2018 15:31 (EST)

TORONTO, Feb. 14, 2018 (GLOBE NEWSWIRE) -- NewstrikeResourcesLtd. (TSX-V:HIP) ("Newstrike" or the "Company”) announced today the appointment Mr. Brett Whalen, CFA to its Board of Directors and Chair of its Audit Committee.

“Brett is a respected capital markets professional whose talents as both a CEO, CFA and investment banker will be invaluable to the Company in executing the next phase of its growth strategy”, noted Scott Kelly, Newstrike Executive Chairman. “On behalf of the Board, I would like to welcome Brett as a non-executive Director and Chair of the Audit Committee where his background in both economics and corporate finance, his designation as a Chartered Financial Analyst and his independent status will be of immediate and lasting value to all shareholders.”

Brett Whalen is currently a Vice President and Portfolio Manager at Goodman Investment Counsel, a wholly-owned division of Dundee Corporation. Brett is also President and CEO of the CMP Group of companies, providing capital to the resource sectors in Canada. He has a wealth of investment banking experience earned through senior positions with Dundee Capital Markets and Clarus Securities Inc. Brett graduated in 1998 with an Honours B.A. in Economics from Wilfrid Laurier University and in 2001 he received his Chartered Financial Analyst designation.

Newstrike is the parent company of Up Cannabis Inc., a licensed producer of cannabis that received its cultivation license on December 19, 2016, and was granted an amendment to begin sales on January 5, 2018. Newstrike, together with its strategic partners, including Canada’s iconic musicians The Tragically Hip, is developing a diverse network of high quality cannabis brands. For more information visit www.up.ca or www.newstrike.ca

Forward-LookingInformation

This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Newstrike to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These forward-looking statements include, but are not limited to, statements relating to Newstrike’s expectations with respect to legislative developments regarding cannabis, sales and the adult-use cannabis market. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.

There can be no assurance that the legalization of adult-use cannabis will occur, or that it will occur on the terms and conditions contemplated in this news release. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties.

Actual results could differ materially from those currently anticipated due to a number of factors and risks. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements contained in this news release are made as of the date of this release and, accordingly, are subject to change after such date.

Newstrike does not assume any obligation to update or revise any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf, except as required by applicable law.

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